Stamp Duty since 1 April 2025?
Stamp Duty Land Tax (SDLT) is a mandatory property tax payable in England and Northern Ireland when purchasing a property over the price of £125,000 (different rules apply to Scotland & Wales). The rates apply to people who are not first-time buyers, based in the UK and not investors:
|
Value of property |
SDLT payable |
|
Up to £125,000 |
0% |
|
From £125,001 to £250,000 |
2% |
|
From £250,001 to £925,000 |
5% |
|
From £925,001 to £1.5 million |
10% |
|
Above £1.5 million |
12% |
First-time buyers pay Tax on homes priced between £300,001 and £500,000 which is subject to a 5% stamp duty rate. No Tax is due on a purchase price of up to £300,000. Any purchase above £500,000 are not eligible for any reliefs so Tax applies at the standard rate noted above.
These rates apply to both cash buyers and mortgage buyers.
If you are not a first-time buyer, it’s worth noting that purchasing additional properties attracts an extra 5% stamp duty surcharge if you already own a property valued above £40,000. Any Company and non-natural persons acquiring a dwelling for £500,000 incur Stamp Duty of 17%
Persons who are not permanent UK residents (living abroad for over half the year) also attract an additional 2% of Stamp Duty land tax (on top of the standard rate).